bush, and clinton. the difference is probably 1 million jobs relative to what is done in the past and now. we're missing one million government jobs retive to the histical norm -- >> rose: what's the difference? why is that true? >> it's true for two reasons. one is that states and locates almost inevitability have to cut back when time is tough. they lose tax revenues. they are mandated legally to run a balanced budget so at the time same time consumers and red soxes pull back the government is. in washington, starting in 2011, with the negotiations between the house republicans and the white houses, the house republicans have insisted on big cuts and have woniguts and that's why we have austerity and will have more this year. >> rose: if the fed wanted to reduce unemployment from seven to whatever it is-- seven. could they do that? do they have the tools to do that? >> no. i don't think so. they're down to incremental policies. i think they know that. ben bernanke and janet yellen, and otheres, are co